Litecoin price (LTC/USD) tumbles to five-day low, but leapfrogs EOS by market cap

Litecoin (LTC) has managed to recapture the position of the fourth-largest cryptocurrency by market capitalisation, despite seeing significant losses in the past 24 hours.

The digital currency experienced a sharp plunge during yesterday’s morning session, with its price falling to a five-day low of $41.42. The digital coin’s performance improved somewhat in the afternoon, although it wasn’t able to gain enough momentum for a meaningful recovery. The coin ended the session at $42.00, well below its opening price of $43.83.

LTC enjoyed a positive start to today’s trading, as the coin’s price rose to as high as $42.55 during the opening hour of the session. However, the token run out of steam pretty quickly and subsequently descended to sub-$42 levels. The coin fell to as low as $41.27 and is currently trading around the $41.50 mark, according to data from digital currency tracker Coinmarketcap.

Litecoin’s recent struggles are in stark contrast with the coin’s performance last week, which resulted in gains of nearly 40% and catapulted LTC to the position of the fourth-largest digital currency. Litecoin lost that position to EOS earlier this week, but has now managed to regain it thanks to EOS posting even bigger losses over the past 24 hours.

Meanwhile, Litecoin has seen a big improvement in terms of market activity following its breakout on Friday. Since then, the coin’s daily trading volumes have consistently surpassed the $1-billion mark. Recent market data shows that some $1.1 billion worth of LTC tokens have changed hands over the most recent 24-hour period.

In today’s trading, the Litecoin price stood at $41.52, as of 12:56 GMT. The digital currency has lost 2.9% in the past 24 hours. Its total market cap currently stands at $2.5 billion.

For further information on how to buy and trade Litecoin, see our comprehensive Litecoin guide.